OGE Energy Corp. (NYSE:OGE) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 27.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 224,182 shares of the utilities provider’s stock after buying an additional 47,656 shares during the period. Raymond James & Associates’ holdings in OGE Energy were worth $8,003,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OGE. Donoghue Forlines LLC acquired a new position in shares of OGE Energy during the first quarter worth about $656,000. Harbor Capital Advisors Inc. purchased a new position in OGE Energy in the second quarter worth approximately $619,000. SG Americas Securities LLC grew its holdings in OGE Energy by 2,815.6% during the 1st quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock worth $4,154,000 after acquiring an additional 116,961 shares in the last quarter. TD Asset Management Inc purchased a new stake in shares of OGE Energy in the 4th quarter valued at approximately $1,965,000. Finally, Wedge Capital Management L L P NC raised its holdings in shares of OGE Energy by 6.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock valued at $13,960,000 after purchasing an additional 22,899 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OGE shares. Argus cut shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Evercore ISI lifted their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Finally, Barclays increased their price objective on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.33.

OGE Energy Stock Performance

NYSE OGE opened at $39.65 on Tuesday. The company has a fifty day moving average of $37.43 and a two-hundred day moving average of $35.49. The company has a market capitalization of $7.95 billion, a PE ratio of 20.13, a P/E/G ratio of 3.68 and a beta of 0.74. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $40.36. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36.

OGE Energy (NYSE:OGE) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. As a group, analysts expect that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.